Steve Cohen, George Soros Buy Into Facebook

8/15/2012 10:56AM

Some big money names were buying Facebook shares last quarter. Both Steven Cohen and George Soros reported holdings in the social-network as of the end of June. David Benoit has details on Markets Hub. Photo: Bloomberg.

This transcript has been automatically generated and may not be 100% accurate.

... I ... you can see Misty George Soros Bemis Wilkinson ... who really ... likes Facebook ... how long will it pays ... to put it that he still opens up ... the window for the faltering time ... George Soros like Facebook I and your booklet day Benoit ... Deal Journal blogger because its thirty next season ... you can explain what that means I get there ... so every quarter ... these large fund managers with a hundred million or more in assets at you ... tell the world but they were holding ... as of the end of the quarter cities ... in a SASAC deadline ... sales in ... June the thirtieth so what did all he says that in so we don't know they still hold them in on the one above but there were some notables that fall into place yet estimates of is the first quarter would've ever seen Facebook in its filings on a George Soros one-time billionaire good finds but ... operator ... analyst Steve Cohen warmers Assisi capital ... Colin of what awful things to his two thousand so ... it was three small stake it was about three million dollars due to his pull up a spoon ... the one that realizes Capital Research ... in a recent EP stake is that it's a lot there also is huge for it ... small but then you slide ... but it but a hundred fifty million I'm ... looking for to ... OppenheimerFunds and another one with about ... six million shares to another ... the hundred million plus in Facebook ... and Citadel also has a bunt investment to look like only some of its income in ... this document cuts and puts and calls ... so here I mean look you see that these are all in India as of the second quarter so it's hard to say ... what the state showed me the significance of the soul them already ... but it does raise an inch to question will be upon us for a long time right Facebook shares ... dropping like a stone since the IPO the earnings came out of no confidence from the earnings ... and that the contest call ... why do people why would you buy Facebook ... the Apple Isle ... they did ... by mid June ... now ... that I was having as some people thought you know around twenty dollars ... it is certainly a lot cheaper than around thirty yet ... aam ... the other I think what's notable about these is so they tell these on two thirty so this wasn't a ... you know buy any IPO and sell right away many IPO's May ... eighteen moved up since these guys in the hole in them at least for a bit ... light said we don't know if they hold many more we don't know ... what they saw in this company to pick up ... Soros and as its capital ... now that's pocket change for these guys even three five billion dollars ... they're a lot ... of that money out there ... and hope for ... I mean just like this ice Orcel in each of us on the other side ... you'll lockups expire for Facebook ... how does this play out in terms of the stock in the push and pull ... over the stock has gone right now ... it's a start up a bit today um ... I think it probably gets a little bit of confidence you know that arsonists has said anything that may come out and say something ... about Facebook I think it would be a big ... help that there hasn't been that much kind of ... institutional ... support ... for Facebook to all and in Sophie's big kind of ... well-known money managers are saying ... no ... we see value in this stock ... we seen other advertising is can a turnaround in ... the Journal story all yet that that of the person we want to tell the story so Saturday the Journal's report about the the woman in charge of Bespoke from advertising getting ... these big companies to come to advertise on Facebook has a pretty interesting story about ... they have all these metrics and are ... willing to share some things with advertisers and ad prices are pushing for more ... so they might be ... you know ... telling an advertiser paid ... this kind of demographic is talking about your small kid who was one of the examples but up ... and see its playdoh social network renovation building on out there and China Network socially with these big advertisers ... oligopoly this ... story check that one out and check out Deal Journal all the time Mr. Gaven on this party must